Terrible news Friday on our economy.
The unemployment rate in December surged to its highest level in nearly 16 years.
More than 7%.
President elect Barack Obama said that means Congress should work faster to pass his huge stimulus plan.
But Obama’s plan is off to a rocky start on the hill.
Criticized by some democrats and republicans, but he says we can't drag out the debate, with a 2 point 6 million jobs lost last year.
Jobs like Nancy Gusman who is one of America’s new unemployed.
She's highly educated.
A lawyer! but in real estate.
Her Silver Spring, Maryland company closed.
Sometimes I’m terrified I’m going to end up not being able to pay my bills and not being able to feed my kids, said Gusman.
That fear is spreading, unemployment accelerating faster than experts predicted.
A half million American jobs lost last month.
The unemployment rate's now 7.2% the worst since 1993.
The 2.6 million jobs lost in 2008, is the most since 1945 and the end of World War II!
President Elect obama urged Congress to pass his stimulus plan. Fast.
But some democrats say not so fast.
They want to be sure business tax cuts are in the plan, added by Obama to satisfy republicans, will translate into employment.
“We are discussing some details about what tax cuts are best to stimulate jobs,” said democratic Senator Barbara Boxer of California.
Boeing said Friday it plans to cut 4300 jobs.
Freightliner will layoff 2100 workers at 3 truck plants.
Nancy Gusman hopes she gets back to work.
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